International Business Machines Co. (NYSE:IBM) Stock Holdings Trimmed by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its position in International Business Machines Co. (NYSE:IBM) by 79.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,750 shares of the technology company’s stock after selling 6,596 shares during the quarter. Meeder Asset Management Inc.’s holdings in International Business Machines were worth $334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Wedmont Private Capital grew its holdings in shares of International Business Machines by 22.9% during the fourth quarter. Wedmont Private Capital now owns 8,453 shares of the technology company’s stock valued at $1,362,000 after purchasing an additional 1,576 shares during the last quarter. Howard Financial Services LTD. boosted its position in shares of International Business Machines by 38.0% during the fourth quarter. Howard Financial Services LTD. now owns 2,958 shares of the technology company’s stock worth $484,000 after buying an additional 815 shares during the period. Enterprise Bank & Trust Co acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $312,000. Thrive Wealth Management LLC boosted its position in shares of International Business Machines by 0.9% during the fourth quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock worth $1,196,000 after buying an additional 64 shares during the period. Finally, Charles Schwab Trust Co boosted its position in shares of International Business Machines by 28.6% during the fourth quarter. Charles Schwab Trust Co now owns 4,950 shares of the technology company’s stock worth $810,000 after buying an additional 1,102 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

NYSE:IBM traded up $0.05 during mid-day trading on Monday, hitting $182.88. The company’s stock had a trading volume of 2,913,280 shares, compared to its average volume of 4,441,758. International Business Machines Co. has a fifty-two week low of $133.10 and a fifty-two week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $167.99 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 4.51 and a beta of 0.71. The stock has a fifty day moving average of $171.43 and a 200-day moving average of $177.77.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. As a group, equities analysts forecast that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.65%. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBM. The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. JPMorgan Chase & Co. cut their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. BNP Paribas started coverage on International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective for the company. Finally, Jefferies Financial Group cut their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.53.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.